Google beats estimates with profit, sales gains

Google Inc. said late Thursday its fiscal fourth-quarter net income fell sharply to $382 million, or $1.21 a share, from $1.2 billion, or $3.79 a share in the same period a year earlier. Mountain View, Calif.-based Internet giant Google said net revenue in the period ended in December rose to $4.2 billion. Excluding special items, Google said earnings for the period were $5.10 a share. Analysts on average had been estimating Google would post earnings excluding special items of $4.95 a share on $4.1 billion in net revenue